I’m quoting from a website, but this is a well-known fact. I bolded the areas to point out the facts.
Roosevelt established the Federal Deposit Insurance Corporation (FDIC) in 1933, assuring people it was safer to keep their money in a reopened bank than under the mattress. Then on August 23, 1935, Congress approved legislation that had a major impact on the Federal Reserve Banks, the Banking Act of 1935. This Act structurally altered forever the entire concept behind the Federal Reserve, whereas its purpose originally was to provide stability with respect to internal capital flows in addition to a regulatory clearing house for the banks. Each branch maintained its separate interest rate to attract capital to a region or to deflect it to prevent another Panic of 1907 when cash flowed from the east to the west because of the San Francisco Earthquake of 1906. This is where the Open Market Committee was established and national monetary and credit policies were determined in Washington which would gradually become the new political economy and Laissez–faire was now officially dead. As World War II approached, politics took control of the Fed. Once again the Fed was ordered to support US government bonds at par. This decree was not lifted until 1951. The Fed remained fairly independent thereafter until the Vietnam War. Politicians viewed its authority to increase the money supply on an elastic basis meant that inflation was their problem, not Congress’. Politicians began to spend whatever they wanted to win election and criticized the Fed if inflation appeared when they had no control over the fiscal spending of Congress.
How does this dispute all the other quotes? Those are only some quotes theres a Lot more from other notable people, that and history itself both recent events and longer term.
I’m not saying I like the Fed. I dislike it just like any other central bank, and even that term cannot go with the Fed, because legally it’s not under government control like other central banks of the world. I’m just saying that the Fed was set up a certain way (right or wrongly at that time), but has since been corrupted by powers in D.C.
I can agree with that it gets mixed up after a while. Corruption feeds corruption. The point of the other Presidents’ quotes and others is that Private Central Banking inherently creates a system of corruption whereby the power to issue money will eventually come with it the power to determine who is in charge.
Speaking of 13,000 Acre Austrian Rothschild hunting estates… "Kings could not afford this. It could only belong to a Rothschild." -William I of Prussia
Baron James built a lavish palace in Paris, where he entertained the likes of Benjamin Disraeli and Heinrich Heine. Heine recalled one visit: “I saw a gold-laced lackey bringing the baronial chamber pot along the corridor. Some speculator from the Bourse, who was passing, reverently lifted his hat to the impressive vessel.” Baron James later built another palace 25 mi. east of Paris at Ferrieres. When William I of Prussia saw it, he said, “Kings could not afford this. It could only belong to a Rothschild.”
We just need a method for avoiding ever turning cryptocurrencies into kleptocurrencies in order to buy and sell and we’re home free. It won’t happen without a fight though.
It looked like there was a brief recovery after Bitcoin dipped below 6k, but clearly some conspiracy of bankers nipped that in the bud. It’s now looking desperate to the point that there aren’t even any experts sending me messages that now is the perfect time to buy.
I don’t know. If I were still in then I think I’d be tempted to do that bizarre hodl thing at this point.
I still think it could drop more but what’s the point of selling my stash to hold bloody tether and miss any rebound when (and it could be down for quite a while) when it occurs. I could look foolish if it drops to 2k of course.
Really need more stable coins asap .
We also need another hero coin bitcoin sucks ass.
Unfortunately for whatever reason Ethereum isn’t able to step up.
Now I’m off to Sell some of my US stocks they have topped out need to learn my lesson and take some profits.
It was foolish for cryptocurrencies to go mainstream because once their inherently subversive nature became apparent to the kleptocracy their fate was sealed. They belong underground if they hope to survive and evolve.
if that’s the sole reason for disliking bitcoin, then you don’t really understand what bitcoin is about, or why it was created in the first place…no offense.
and the transaction fee issue only recently came about precisely because of everyone gravitated towards its security and decentralized “store of value”.
